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It's hard to tell which came first, since Agito's the only character who appears in both, but here are some indicators of the time
-Hayate's 22 in M4. (it takes place 10 years after she regained her ability to walk). Then again, StrikerS starts in 75 and ends in 76, so M4 and X seem to be two years after StrikerS ends, in 78. M4 seems to take place in the summer, and I think I heard somewhere that X takes place in the spring.
-In Track 1 of SSX Disc 2, Lutecia and Agito briefly talk about Signum being in a command officer training course. In M4, she's been promoted to Captain, which could indicate that it's after she completed the course.
I've thus thought of M4 as being after X.
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